Factory workers lose jobs as steel tariffs put business in "crisis mode"

[Guno צְבִי]

Maga rubes? winning?

Steel tariffs that went into effect the first week of June are causing a factory in Missouri to lay off dozens of workers due to lost business from cancelled customer orders.

At the MidContinent Steel and Wire plant in Poplar Bluff, Missouri, where Magnum Fasteners products are made, 60 employees were laid off this month as certain operations were idled due to lost business from increased steel costs.

Company in "crisis mode"
The company is the largest nail manufacturer in the U.S. and employs hundreds of people in Poplar Bluff. It is owned by Deacaro, a Mexico-headquartered firm which ships steel from its mills in Mexico into the U.S. for a variety of finished products. The administration's steel tariffs add a 25 percent penalty to the raw material.

"The imposition of these tariffs on our raw materials on June 1st has actually put our operations into a crisis mode," operations general manager Chris Pratt told KFVS in an interview.

One employee laid off last Monday said the layoffs could be a sign of bigger problems at the nail factory, KFVS reported.

Nearly half of orders cancelled
Pratt says their customers have canceled 50 percent of their orders because the price of their products have jumped since the steel tariffs started.




https://www.cbsnews.com/video/factor...n-crisis-mode/

[Guno צְבִי]

On trade, Trump promised win-win. He’s delivering lose-lose.


https://www.washingtonpost.com/news/...=.49c6ad2f1d62

[Guno צְבִי]

Here's How Many Jobs America Could Lose Because of the Trump Tariffs



http://time.com/money/5322347/trump-tariffs-jobs/

[Jack]

I hope they go by 'Who voted for Trump'. You know, the people that voted for Trump, get laid off first. (Seems only fair)

[Loving91390]

And yet .... we still have the lowest unemployment rate since the 1960's .

[hvilleherb]

And yet .... we still have the lowest unemployment rate since the 1960's .

Trump delivers a low unemployment rate, but Democrats still search for reasons to criticize him. They're grasping at straws.

[ThatOwlWoman]

Maga rubes? winning?

Steel tariffs that went into effect the first week of June are causing a factory in Missouri to lay off dozens of workers due to lost business from cancelled customer orders.

At the MidContinent Steel and Wire plant in Poplar Bluff, Missouri, where Magnum Fasteners products are made, 60 employees were laid off this month as certain operations were idled due to lost business from increased steel costs.

Company in "crisis mode"
The company is the largest nail manufacturer in the U.S. and employs hundreds of people in Poplar Bluff. It is owned by Deacaro, a Mexico-headquartered firm which ships steel from its mills in Mexico into the U.S. for a variety of finished products. The administration's steel tariffs add a 25 percent penalty to the raw material.

"The imposition of these tariffs on our raw materials on June 1st has actually put our operations into a crisis mode," operations general manager Chris Pratt told KFVS in an interview.

One employee laid off last Monday said the layoffs could be a sign of bigger problems at the nail factory, KFVS reported.

Nearly half of orders cancelled
Pratt says their customers have canceled 50 percent of their orders because the price of their products have jumped since the steel tariffs started.




https://www.cbsnews.com/video/factor...n-crisis-mode/

I feel bad for these folks. There are not many decent jobs in that area for people without a lot of higher education.

[ThatOwlWoman]

Here's How Many Jobs America Could Lose Because of the Trump Tariffs
http://time.com/money/5322347/trump-tariffs-jobs/

From the article:

"...analysts say that tens of thousands of American workers are likely to lose their jobs—and upwards of two million jobs are at risk—more or less as a direct consequence of the Trump administration’s trade policies, and the retaliatory tariffs that follow."

So unemployment rises, plus everyone gets to pay more for big-ticket things like refrigerators, vehicles, washers/dryers... and little things like nails, beverages in aluminum cans, consumer electronics, phones. So much winning it's making me dizzy.

[katzgar]

Trump delivers a low unemployment rate, but Democrats still search for reasons to criticize him. They're grasping at straws.

Losing jobs isn't grasping at straws losing jobs is you being a moron

[katzgar]

And yet .... we still have the lowest unemployment rate since the 1960's .

So losing jobs is okay with you

[dukkha]

I was watching some dude who had done negotiations with China before.
They always say "we hear your concerns" then continue the same barriers.

At some point we have to demand access to their market without having to have Chinese partners,
and get our IP stolen.
This ain't no party, this ain't no disco -this is the only way to get China to reform. This ain't no fooling around.

[Guno צְבִי]

And yet .... we still have the lowest unemployment rate since the 1960's .

And the trade wars have just gotten started , wait for the impact on the America worker and inflation

[Getin the ring]

FAKE NEWS

but not surprising from you nut-bags

On trade, Trump promised win-win. He’s delivering lose-lose.

no, you kind of got a lock on that title, it's in goodhands

[PostmodernProphet]

Losing jobs isn't grasping at straws losing jobs is you being a moron

are there fewer jobs today than there were last month or are there more.......

[PostmodernProphet]

So losing jobs is okay with you

there will be adjustments as artificial structures are replaced with real ones........